NV Gold drilling Slumber Gold Project, Nevada
NV Gold Corp. [TSXV: NVX; OTCQB: NVGLF; FSE: 8NV)] reported the start of a 4,000-foot reverse circulation drill program at its 100%-owned Slumber Gold Project located approximately 80.5 km (50 miles) northwest of Winnemucca and 35 km (21.7 miles) west of the Sleeper gold deposit, Humboldt County, Nevada.
New Frontier Drilling, based in Fallon, Nevada, is being retained to carry out a 4,000-foot the reverse circulation drill program comprised of seven holes ranging in depth from 500 to 700 feet from surface. Targets for these drill holes have been designed to test new targets derived from previous geophysical and sampling programs. Drilling is scheduled to begin during the second week of June and is expected to last two to three weeks.
The property, comprising 85 lode mining claims, is also situated in proximity to Integra Resource’s Florida Canyon low-grade gold operation. Slumber is volcanic-hosted epithermal gold (and low silver) mineralization found in a structural corridor along the southern Jackson Mountains.
It is interpreted as graben-like structures controlling silicification and minor quartz veining in volcanic and sedimentary rocks. The main host rocks are of rhyolitic composition underlain by fresh to weakly altered Paleozoic Greenstone. Most of the gold mineralization occurs in a well oxidized, hematite breccia (Trf) and the underlying silicified lithic tuff zone (Trx), gold values can increase when intercepted by quartz veining. It is important to know that drilling has also encountered displaced decalcified, gold-bearing carbonate rock in low-angle structures, which suggests additional targets within the area.
NV Gold has 15.2 million shares issued and outstanding. The company has 21 exploration projects in Nevada comprising 639 100%-company-owned lode mining claims totaling 53.4 km2 (20.6 square miles).